PRESIDENCY: With No Visible Project in Sight, Buhari Launches 2 Books in Honour of His Administration

With No Visible Project in Sight, Buhari Launches 2 Books in Honour of His Administration

Nigeria on Monday witnessed a second book launch within 4 days by the government of President Muhammadu Buhari in Abuja.

President Muhammadu Buhari had on Friday September 30, 2016 launched a giant photobook titled “Buhari A New Beginning’’. At the launch, President Buhari promised that his administration will improve funding of creative industry in the 2017 budget in order to boost employment opportunities.

The event featured youth conversation, discussion session where seven selected youths exchanged ideas with the President on issues relating to creative industry. The President said the improved allocation will provide the requisite infrastructure for rapid transformation of the creative industry in the country.

In a fresh development on Monday, President Buhari launched a new book titled: “Muhammadu Buhari: Challenges of Leadership in Nigeria”. The launch event was held at the International Conference Center, ICC. Former Head of State, Yakubu Gowon, former President Olusegun Obasanjo, President of Niger, Mahamadou Issoufou, Vice President Yemi Osinbajo, Senate President Bukola Saraki, APC Chieftain, Asiwaju Bola Tinubu were among top dignitaries that graced the elaborate ceremony.

President Buhari has commissioned only two major projects since he assumed office as President on May 29, 2015; first was the Abuja-Kaduna railway line, a project of the Goodluck Jonathan administration and second, the launch of a school built by Governor Rauf Aregbesola in Osun State.

#Newsblock.

Global oil price returns to $50 per barrel

Global oil price returns to $50 per barrel

Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year.

Oil prices have been on an uptrend since the Organisation of Petroleum Exporting Countries decided to cut output for the first time in eight years.

Brent, against which half of the world’s oil is priced, had risen to around $48 per barrel on Wednesday after OPEC agreed to reduce production, compared to $45 earlier that day.

It stood at $50.19 per barrel as of 4.53pm Nigerian time on Sunday, up from around $49.66 per barrel on Thursday.

OPEC agreed to cut production to a range of 32.5 million barrels per day to 33 million bpd from around 33.5 million bpd.

The 14-member oil cartel said the move was aimed accelerating the ongoing drawdown of the stock overhang and bringing the rebalancing forward.

It took into account current market conditions and immediate prospects and concluded that it is not advisable to ignore the potential risk that the present stock overhang may continue to weigh negatively well into the future, with a worsening impact on producers, consumers and the industry.

OPEC decided to establish a high-level committee, comprising representatives of member countries, supported by the OPEC Secretariat, to study and recommend the implementation of the production level of the member countries.

It said the committee would develop a framework of high-level consultations between OPEC and non-OPEC oil-producing countries, including identifying risks and taking pro-active measures that would ensure a balanced oil market on a sustainable basis, to be considered at the November OPEC Conference.

Brent had on August 18 hit a high of $50.69 per barrel amid expectations of a possible freeze in production levels.

Many OPEC members, including Nigeria, have been hurt badly by a collapse in oil prices over the last two years. While some Gulf oil exporters have very low output costs, other producers such as Iran and Venezuela need oil prices above $100 to balance their budgets.

Brent crude had on June 8 climbed by as much as 2.1 per cent to touch $52.54, the highest price since last October.

But it later fell to as low as $43 on July 27 after official United States energy data showed an unexpected glut of oil in storage.

Oil prices had rallied from lows of under $28 per barrel in January to trade above the $50 per barrel mark in June, spurred by a string of international oil production outages in the second quarter that offered temporary respite from the global glut.

Probing banks for non-remittance of taxes

Probing banks for non-remittance of taxes

Written by the Editorial Board of The Guardian Newspaper

Following what seemed a successful probing of a sample of branches of banks for non-remittance of tax revenues they collected on behalf of the Federal Government from 2008-2012, a decision was reportedly taken by the National Economic Council (NEC) to further the probe and ascertain the amount of revenue banks collected and failed to remit to government coffers within the period, July 2012-December 2015. According to the report, the concluded sample probe indicated that banks failed to remit to government “over N12 billion” between 2008 and 2012.

This huge amount, which gives an annual average of about N2.4 billion in the five years probed, is enough incentive for a revenue-hungry government to probe further. It should however, be a surprise if the government is not considering probing all the bank branches that were not included in the sample exercise of the period 2008-2012 before going ahead with a new exercise covering an entire new period.

If, indeed, the sample probe revealed and it is confirmed that N12 billion was not remitted to the government, it will be wise for the government to extend the probe to bank branches that were not included in the initial sample. And beyond the branches, the banks’ head offices should also be screened. It is only when all branches and head offices of the banks have been screened for the 2008-2012 period that the exercise can objectively be extended to a new period. If this is not done, it can suggest that some elements of corruption may have been involved in restricting the coverage.

That stated, it certainly will not be good enough to accept the report of the consultants without giving banks the opportunity to defend themselves. So, banks must be given opportunities to review the reports of the consultants that handled the probe on behalf of the government. That will enable both parties to smoothen edges that may result into disagreements and for banks to defend themselves. It will also be justice in practice. This is even more imperative given the report that the consultants “would be paid 15 per cent of whatever they unraveled as unremitted funds from the books of the banks in the belief that this form of remuneration would encourage them to do a thorough job.”

The flip side is that the promised remuneration may also encourage the consultants to corruptively pad whatever short-remittances they may discover in order to enhance their take. This is another good reason the banks deserve to be given the opportunity to agree or disagree with and harmonise figures of the consultants. But in the process of harmonisation of figures from both parties, honesty and objectivity are required to ensure that the final outcome represents reality and not what serves some ulterior and selfish motives or interest of any of the parties.

If banks are found to have withheld government revenue, it means they were doing their business with such funds. In doing so, they directly or indirectly borrowed the funds from the government, invested same, perhaps, in government financial instruments such as Treasury Bills and Bonds. No doubt, they also earned huge income from investing the withheld large sums of money.To ensure they pay back in full, the affected banks should also be required to refund the income they derived from unauthorised use of government funds, at appropriate ruling rates of interest.

Apart from this requirement being equity at play, it will send desirable signal that corporate malfeasance cannot be supported or tolerated in the country. That will also be in line with the on-going war against graft. However, if the government really wants to serve a deterrent warning, the responsible bank officials for the non-remittances may be sanctioned either directly or through their professional bodies, that is, if government will be bold to report them to such bodies with incontrovertible evidence. Furthermore, nothing can prevent the government from prosecuting the banks in the law courts.

Perhaps, what should worry all Nigerians the most given the outcome of the reported probe is the apparent failure of regulatory oversight. The Central Bank of Nigeria (CBN) as the regulatory body for banks is reputed for reports of its examinations and stress-testing of banks. How come that in all of its series of examinations in the five (5) years, 2008-2012, it did not discover that the banks were not remitting all the funds they collected on behalf of the government? Failure of regulatory oversight in the banking system portends great danger to the system and indeed, the economy especially with rising cases of money laundering and terrorist financing. The outcome of the probe also raises questions on the effectiveness of banks’ compliance managers, internal and external auditors. If these officials had diligently performed their functions, the aberration of collected funds not being remitted to the beneficiary would not in any form, have escaped their attention.

The probe findings are even weighty on the confidence or lack of it that shareholders and other stakeholders in the banks and other corporate organisations would place on unqualified certification of banks’ statement of financial affairs which is exclusively carried out by external auditors. By implication the professional accounting bodies whose members were the auditors of any culprit bank must reflect on the import of this development on the teaching, learning, practice and discipline of their members. Thus, in order to prevent a repeat of such evident professional failure, appropriate actions should be taken.

It may be hard to explain what could have made it possible for banks not to remit to government the revenues collected on its behalf but the truth is that either the responsible agencies and officials which should have made such a situation impossible failed to do their work properly or colluded with other person(s) to short-change the government for personal benefits. This situation is evidence that the machinery of corporate management and quality assurance has become grossly suspect and needs to be re-examined.

In the meantime, all banks found culpable in that and other future probes, must be made to refund the withheld amounts with interest and their names should be made public to reap public shame. Government agencies and officials charged with the responsibility of monitoring revenue accretion and accumulation to government should be diligent in performing their assignments. Finally, it must be appreciated that if organisations and individuals found to have perpetrated and perhaps, perpetuated this problem are not severely sanctioned, the guarantee is that others will in future indulge in similar practices believing that it pays not to remit to government its funds in their possession.

Be Inspired: God’s Ultimate Desire for Your Marriage by Pastor Faith Oyedepo

God’s Ultimate Desire for Your Marriage by Pastor Faith Oyedepo

Author: Pastor Faith OyedepoTopic: God’s Ultimate Desire for Your Marriage

Dear Reader,

You are welcome to another segment on Family Success. Throughout this month, I shall be deliberating on the topic: God’s Ultimate Desire for Your Family. First, it is important to know that God is particularly concerned about your marriage and family. He wants to see you have the best of marriage and to enjoy a successful home. He has made everything available for you to experience a successful home. Moreover, it is God’s desire for all His children to have the best on earth, in life and for their marriages to be peaceful, and fulfilling. That includes you! Today, I will be teaching on: Keeping yourself pure.

It is God’s desire that your marriage be kept pure. You must, therefore, ensure that you keep the marriage-bed pure to enjoy the honour in marriage. The Word of God says: Marriage is honourable in all and the bed undefiled… (Hebrews 13:4). The word ‘undefiled’ there simply means kept pure. Whether as singles or married, to enjoy the honour in marriage, you must ensure that you keep the marriage-bed pure. If this was impossible, God won’t tell you to do it. Young men, don’t keep messing around with ladies, thinking that nobody knows. God’s Word says: The eyes of the Lord are in every place beholding the evil and the good (Proverbs 15:13). Don’t take away the honour that God has in store for you in marriage.

Marriage is honourable in all when the bed is undefiled. As singles, if you must enjoy honour in your marriage, you must lay a good foundation for it by keeping yourself pure. Parents, begin to train your children against pre-marital sex. It does not matter whether it is acceptable in the society or not. If you say, “After doing it, God will forgive me”, please note that the scar will be there.

The marriage bed must remain undefiled, because sex is the seal of the marriage covenant. Any sexual relationship engaged in outside marriage breaks the seal and attracts God’s punishment.  Therefore, you must never get yourself involved in it. However, if you have already defiled the bed, repent and ask God for forgiveness, then forsake it immediately.

Many people get emotionally distorted when they defile the marriage bed to the extent that it disturbs their marital life. You can save your marriage from torments by keeping your life pure. When you defile the marriage bed, you are behaving like a beast and whatever happens to a beast can happen to you anytime. Therefore, you must make a change in the right direction, in the name of Jesus Christ. The later part of our anchor Scripture says: …but whoremongers and adulterers God will judge. The word ‘whore’ simply means harlot. Give no room to the devil if your soul is actually precious to you. Defiling the marriage-bed –whether you are single or married, proves that your soul is not precious to you.

God made man with certain physiological and emotional needs, and marriage provides the best fulfilment for those needs. Physiologically, man needs sex; it is part of his physical nature, and the satisfaction of that urge is permitted only within the parameters of marriage. God honours the physical union of a man and his wife by ensuring that they find fulfilment in each other’s body. This is why He frowns at adultery and fornication. 1 Corinthians 7:2 says: Nevertheless, to avoid fornication, let every man have his own wife, and let every woman have her own husband. This is not to say that young men and women should rush into marriage for the sole aim of satisfying their sexual urge. That would make them nothing but bedmates. The love and excitement in such a relationship never last, and that is not God’s plan or purpose for marriage. As a single man or lady, you are expected to control your urge until you locate a suitable partner with whom you are ready to spend the rest of your life; then, get legally married. The truth is, if you cannot tame your sexual drive while single, you probably will not be able to exercise control when you are married. Flaunting God’s purpose in this area of marriage can be very costly to your home and destiny. Don’t do it.

Refuse to fall a victim if you truly have value for yourself. Don’t say that you want to earn yourself a living by whoremongering because God will judge those who do that. Stop it! Don’t wait for the fire of God to come upon you; plead for His mercy, call upon Him now that He is ready to hear you, before it’s too late.  The Word of God says: I beseech you therefore brethren by the mercies of God that ye present your bodies a living sacrifice, holy, acceptable unto God which is your reasonable service (Romans 12:1). In order words, the presentation of your body unto the Almighty God as a living sacrifice is your reasonable service unto God. Any service done unto God without your body being a living sacrifice is not acceptable. It does not matter what you do and the volume of money you give in church every day, if your body is not kept pure, that service is not acceptable unto God. Whether single or married, illicit sexual affairs render your service to God “unrewardable” and will deprive you of enjoying the honour He has destined for you in marriage. God is much more interested in your person than your money or what you can do. When your person is acceptable unto God, then your service will become acceptable.

Honour in marriage is your heritage in Christ. You need to take it by force by stopping every form of harlotry in your life. Receive grace to practise the Word of God so that you can truly enjoy the honour destined for you in marriage in Jesus’ name!

If you are not born again and you want to accept Jesus as your Lord and Saviour, please say this prayer: “Dear Lord Jesus Christ, I come to You today. I am a sinner. Forgive me of my sins and cleanse me with Your Blood. Deliver me from sin and satan to serve the living God. I accept You as my Lord and Saviour. Make me a child of God today. Thank You for accepting me into Your Kingdom.”

If you prayed this simple prayer, you are now a child of God. He loves you and will never leave you. Read your Bible daily, obey God’s Word and seek Christian fellowship (John 14:21).

Congratulations! You are now born again! All-round rest and peace are guaranteed you, in Jesus’ Name. Call or write, and share your testimonies with me through contact@faithoyedepo.org; OR 07026385437 and 08141320204.

For more insight, these books authored by me are available at the Dominion Bookstores in all Living Faith Churches and other leading Christian bookstores: Marriage Covenant, Making Marriage Work, Building A Successful Home and Success in Marriage (Co-Authored).

HEALTH: harmattan is around the corner. See How to prevent ‘Apollo'

How to prevent ‘Apollo'

A medical expert in Ilorin, Misbau Lawal, has advised people to imbibe the habit of regular hand washing to avoid contracting viral and bacterial infection of the eye currently spreading.

The News Agency of Nigeria reports that the infection, known as ‘conjunctivitis’ in medical parlance and ‘apollo’ in local parlance, is inflammation of the conjunctiva, a thin, filmy membrane that covers the white portion of the eyes.

According to Mr. Lawal, the conjunctiva, which produces mucous to coat and lubricate the surface of the eye, contains fine blood vessels that can be seen on close inspection.

Mr. Lawal advised people to keep their hands away from the eyes and thoroughly wash hands before and after applying eye medications on infected children.

He explained that conjunctivitis was a common eye problem that affected people of all age groups and one of the most common eye infections in children.

The physician added that the most common cause of irritation of the eye layer was due to allergies in the environment, which included air pollution, smoke, pollen from trees and grass.

He also explained that when the conjunctiva became irritated or inflamed, the blood vessels, which supplied it, enlarged and became more prominent, causing the eye to turn red.

According to him, symptoms include pinkness or redness in the eye red, inflamed inner eyelids, blurred vision, sandy or scratchy feeling in the eye, pus, mucous, or watery discharge from the eye.

“People who work in health care settings or with children, have a high risk of exposure to the viruses that can cause viral conjunctivitis,” he warned.

He also warned against sharing of towels, washcloth, cosmetics, or eye-drops with others, advising those infected to seek treatment promptly.

The expert also advised that infected children, who may forget these precautions, be kept away from school, camp, and the swimming pool, until their condition was cured.

The outbreak is prevalent among children who mostly get infected from schools.
In some of the hospital visited in Ilorin metropolis, many children with symptoms of ‘apollo’, were brought for medical treatment.

NAN

HEALTH: Scientists close to HIV cure as treated patient shows ‘remarkable’ progress (See more details)

Scientists close to HIV cure as treated patient shows ‘remarkable’ progress

Scientists are close to a breakthrough in the search for a Human Immuno-deficiency Virus (HIV) cure as a British man suffering from the virus shows “remarkable” progress after treatment.

According to a report published in DailyMailUK online, the scientists treating the 44-year-old patient are hopeful of him being cured of the disease as he takes part in a medical trial described as “one of the first serious attempts at a full cure for HIV.”

Research teams from five of Britain’s leading universities have collaborated with the National Health Service (NHS) to launch the project, which involves 50 people completing a trial.

The man, who was the first to take part, told the Sunday Times London that recent blood tests showed that no detectable HIV virus was present, although it was too early to confirm that the treatment had worked.

The Managing Director of the National Institute for Health Research Office for Clinical Research Infrastructure, Mark Samuels told the Sunday Times: “This is one of the first serious attempts at a full cure for HIV. We are exploring the real possibility of curing HIV. This is a huge challenge and it is still early days but the progress has been remarkable.”

The new therapy uses a two-stage attack on the virus and aims to overcome a major barrier to clearing HIV from a sufferer’s body – something that has challenged researchers for decades.

Current methods using antiretroviral therapies (ARTs) fall short of ridding patients of HIV, as the virus can hide out of the drugs’ reach in the immune system’s T-cells.

By sheltering in dormant T-cells, the virus can later take over its host and use it to produce thousands of copies of itself .

The research by Oxford and Cambridge universities, Imperial College London, University College London, and King’s College London, is testing a ‘kick and kill’ technique to first expose, then destroy the virus.

First a vaccine helps the body find infected T-cells. This is then followed by a course of the drug Vorinostat that awakens the dormant T-cells, which then begin producing HIV proteins that act as a homing beacon to the immune system.

Imperial College London consultant physician Prof. Sarah Fidler said the treatment worked in the laboratory and there was “good evidence” it would work in patients. However, she added: “We must stress we are still a long way from any actual therapy.”

#By The Guardian